It apparently was triggered by a horrific jobs report just days ago under the economic practices being used by Joe Biden and Kamala Harris in America.
Now the stock market is turning into a huge flop, and analysts are expressing concerns that there is a recession on the horizon – possibly even a depression.
American stocks were down by significant margins, sometimes up to 10% for Apple, for example, as the markets across the United States reacted to huge collapses in foreign stock markets overnight.
Market commentator Stuart Varney said the selloff involves several factors, including a housing market in trouble – the high interest rates under Biden’s economy have cut many people out of the market entirely. And a growing economic slowdown. And inflation. And more.
“The consumer looks to be tapped out. Friday’s very weak jobs report convinced investors that the slowdown is real,” Varney’s report on Fox explained. “It didn’t help when Warren Buffett revealed he’d sold about half his stake in Apple, and that he had been a net seller of stocks for several quarters.”
Then there’s also the war campaigns around the world that have exploded under Biden’s leadership in America. And there’s politics and the election.
American measurements, the DOW Jones Industrial averages, NASDAQ, and S&P all were off between 2% and 3% on Monday.
Republicans wasted no time in highlighting that Biden and Harris have been making the nation’s economic decisions of late, including spending packages of trillions of dollars.
“Bidenomics. Ha ha ha ha! That is called Bidenomics — and we are very proud of Bidenomics!”
— Kamala Harris#KamalaCrash pic.twitter.com/JwXWeePr1m
— RNC Research (@RNCResearch) August 5, 2024
On video, Harris she explains, “Bidenomics. Ha ha ha ha! That is called Bidenomics and we are very proud of Bidenopmics!”
President Donald Trump, the GOP nominee for the White House this year, said, “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
A report at the Gateway Pundit said it was Harris’ words from only a year ago that are haunting her now.
“Biden and Harris have overseen soaring levels of inflation that have depleted ordinary Americans’ savings and made everything more expensive since seizing power more than three years ago,” the report said. “All of Wall Street’s main indexes crashed Monday morning, with both the Dow Jones plunging and the Nasdaq Composite cratering, plunging more than 1,000 points after the Opening Bell. This news follows last week’s disastrous jobs report, which showed a paltry 114,000 jobs were created and the unemployment rate rising to a three-year high.”
Earlier, markets in Japan, South Korea and Taiwan took nosedives.
The report noted Harris’s boasts about Bidenomics were from only one year ago.
“We have never been down 1,000+ points — EVER, not even intraday — on the Nasdaq.”#KAMALACRASH pic.twitter.com/iCXN83vOkQ
— RNC Research (@RNCResearch) August 5, 2024
‘It’s nuts!’ Charles Payne of Fox Business unloads on Biden-Harris economic policies as market tanks
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